Cotality (previously CoreLogic) has just released their June quarter insights.
The market shows a positive inflection in national housing values since February, aligned with the first rate cut in over four years. The real catalyst, according to Executive Research Director Tim Lawless, was the anticipation of rate cuts.
“We were already seeing housing values moving into a subtle trajectory before the rate cut.” (Webinar 19.06.25)
New property listings declined across all three local government areas (LGAs) in May, as the cooler months set in. Overall stock levels also remained lower compared to the same time last year.
Lake Macquarie was the only LGA to record a small uptick in sold properties for May (276, up from 265) and saw a jump in the median house price to $990,000 (from $901,000 in April).
*Local data sourced from realestate.com.au
Monthly Highlights
- 24 Fullerton St, Stockton sold in 10 days for $1,350,000.
– Offers from 3 interested parties.
– Sold to a local family.
- 10/7 King St, Newcastle sold pre-auction in 19 days for $1,260,000.
– Originally purchased for $730,000 in Apr 2019.
– Over the holding time of 6 years, the annual growth for this property was 9.39%. (Building Profile – Domian)